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Cost Accountant and Cost Analysis
Cost Accountant
Is a member of chief accounting officers department? And he is responsible for collecting product costs and preparing exact and timely reports to control and evaluate company operations. Cost accountants assemble, summarize and classify financial and economic data upon the production and pricing of services and goods.
Cost Analysis
Is an activity such uses engineering, motion and time studies, timekeeper's planning and records schedules from production supervisors. Cost analysis systems involve break even analysis, capital expenditure analysis, comparative cost analysis and budgeting techniques. After find out what is really happening, accountants must identify available alternatives. Then professional judgment is desired to apply and interpret the conclusions of each costing systems.
who to prepare contract account
Typical Causes of Labour Variances Labour Rate Variances a) Higher rates being paid than planned because of wage raise awards. b) Lower or Higher grade of work
Process Losses Most manufacturing processes result in several portion of the raw materials utilized not being transformed into a reliable half losses. These losses may take t
Smith Corp. has determined that its contribution margin, (P - MC)/P, is 40%. A recent market research study found the following relationship between adverting outlays and sales rev
A firm of printers is contemplating joining the uniform costing system operated by its Trade Association but the Managing Director is dubious about the benefits of becoming
Stock control and its Level Management must formulate decisions regarding to the control of stock levels along with a view to minimizing the cost of the company whereas achie
Cost Classifications and Estimation Cost classification may be defined like 'the arrangement of cost items in a logical sequence having concern to their nature and reason to b
1) Presented below is a list of terms, followed by definitions or descriptions of those terms. a. Cost pool b. Actual cost system c. Cost driver d. Manufacturing diver
Apportionment of Overheads Apportionment of overheads occurs whereas the net value of an overhead item is shared among more or two cost centers that employ the overheads. Th
Following figures are taken from annual budget of ABC manufacturers for the year 2013: Fixed factory overhead Rs. 4,000,000 Factory overhead absorption rate Rs. 70 per direct labor
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